Govt makes progress on implementation of GST

The ministry of finance says government has made steady progress towards the drafting of the Goods and Services Tax (GST) that will come in effect on 1st April, 2019.

Finance Minister Margaret Mwanakatwe says her ministry has come up with a draft legal framework that it is yet to be approved by cabinet before the end of this month.

She has told journalists in Lusaka that once cabinet approves the document, it will be circulated widely for public analysis and feedback before it is presented to parliament for debate and consideration.

Ms. Mwanakatwe has reiterated that the introduction of goods and services tax will significantly contribute towards improving cash retention.

Last year Finance Minister Margaret Mwanakatwe announced during the 2019 budget presentation that government will abolish value added tax (vat) and replace it with a non-refundable sales tax in April 2019, a move likely to help the government boost revenue collection and bring down mounting debt.